Terraform Cloud Platform
It is HashiCorp’s fully-managed SaaS control-plane for their Infrastructure-as-Code tools. Instead of running Terraform Enterprise, Vault, Consul, Packer, Boundary, etc. yourself, HCP hosts the server components and you only keep the lightweight agents/clients in your own infrastructure.
Features:
Fully-managed Terraform Enterprise – no runners, patching or scaling chores
VCS-native workflow – PR → plan → cost/policy → apply
Guardrails built-in – Sentinel / OPA enforced every run
Remote state – encrypted, versioned, auto-backed-up
Private connectivity – VPC peering, PSC, TGW; no 0.0.0.0/0
Drift detection – scheduled scans, diff dashboard
RBAC + SSO + 2FA + audit logs – team & project granularity
Variable sets & hierarchy – account → project → workspace overrides
Run-tasks – plug Prisma, Checkov, Snyk, Infracost into plan phase
Provider cache & registry proxy – faster, air-gapped runs
Concurrent runs, cost-based queuing – pay-per-use, no idle pools
Native HCP stack – Vault, Consul, Boundary, Waypoint tokens ready
Consumption pricing – billed per resource-hour / run-minute, zero upfront infra
Structure

Workspaces are nothing but Terraform files stored together in order to provision the infrastructure.

If we want to automate the Terraform tasks and provision it in a cloud environment you we use this workfow.
Check and test it out: Link.
For more indepth analysis, you can watch this video:
Arigato!